CIDCO to e-auction bungalow plots in Ghansoli and Panvel
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After a long time, the City and Industrial Development Corporation (CIDCO) has come up with plots for bungalow and row-house in Ghansoli and New Panvel. The plots will be sold through e-auction. The registration to participate in the e-auction for 27 plots available to bid in these two nodes has already started on December 21.

There are 27 plots of which 15 plots are in New Panvel and 12 plots in Ghansoli. While the minimum size of plot is 66 sqm, the maximum size is 831 sqm for bidding. These plots can be developed for residential purposes only like row-house and bungalow with 1 FSI.

A developer from Navi Mumbai said that during the auction, plots meant for row-house and bungalow had always attracted a price that is six to seven times more than the base price. Haresh Chheda, president, Builders Association of Navi Mumbai says that after a long time, CIDCO has come up with small plots for bungalows and row-house. “The bidding price of these plots during the auction goes multiple times.”

The base price plots in Ghanosli ranges from Rs 30,800 per sqm to Rs 35,813 per sqm and the earnest money deposit (EMD) required is anywhere between Rs 2.01 lakh and Rs 2.42 lakh. Similarly, the base price for New Panvel plots is around Rs 39,200 per sqm while EMD is between Rs 5 lakh and 32 lakh. All these plots will be given on lease through e-tender and e-auction.

As per the press note issued by CIDCO public relation department, the e-tender process will begin at 11 am on December 28 and ends at 11.59 pm on January 13. “The e-auction process will begin at 11 am on January 14 and end by 5 pm on the same day,” stated the press note. The results of this e-auction will be declared on January 15, 2021 at 03.00 pm.

Plots available for bidding in Ghansoli range around 66 sqm while plots in New Panvel range between 146 sqm and 831 sqm. The two most expensive plots available are in sector 8(E) in New Panvel and its base price is Rs 39,200. The minimum cost of these two plots—first 814.04 sqm and second 831.67 sqm—will be Rs 3.19 crore and Rs 3.26 crore.

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Free Press Journal